Precious Metals Rise Wed., Nov. 6

by CoinNews.net on November 6, 2019 · 0 comments

Two Gold Bullion Bars

Gold settled 0.6% higher on Wednesday, Nov. 6

Precious metals futures reclaimed some of their prior losses Wednesday. Gains ranged from 0.1% for platinum to 0.8% for palladium.

Gold for December delivery rose $9.40, or 0.6%, to settle at $1,493.10 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold prices are moderately higher at midday Wednesday, on an upside correction after suffering sharp losses Tuesday. Rallying world stock markets that saw the U.S. indexes score record highs on Tuesday continue to squelch buying interest in the safe-haven metals," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note. "However, the U.S. stock indexes are seeing a mild pullback today, which is encouraging some bargain hunting in the gold market."

Gold futures ranged from a low of $1,483.80 to a high of $1,495.90. They fell 1.8% on Tuesday — closing at their lowest level since Oct. 15, and they dipped 0.02% on Monday.

Silver for December delivery added 3 cents, or 0.2%, to close at $17.598 an ounce. Silver futures traded between $17.36 and $17.63. They tumbled 2.8% on Tuesday — finishing at their weakest point since Oct. 22, and they edged 0.08% higher on Monday.

In PGM futures Wednesday:

  • January platinum rose $1.10 to $931.70 an ounce, ranging from $925.90 to $936.90.

  • Palladium for December delivery gained $14.40 to $1,761.10 an ounce, trading between $1,739 and $1,772.90. Last Wednesday, palladium posted a record settlement of $1,792.10 an ounce.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:

  • Gold declined $2.90, or 0.2%, to $1,486.05 an ounce.
  • Silver dropped 50.5 cents, or 2.8%, to $17.54 an ounce.

LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.

US Mint 2019 Bullion Sales

United States Mint bullion sales were unchanged Wednesday. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.

US Mint Bullion Sales (# of coins)
Wednesday Last Week This Week / November September October 2019 Sales
$50 American Eagle 1 Oz Gold Coin 0 0 0 3,500 8,000 98,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 2,000 1,000 1,000 27,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 2,000 4,000 34,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 10,000 20,000 190,000
$50 American Buffalo 1 Oz Gold Coin 0 0 0 2,500 3,000 55,000
$1 American Eagle 1 Oz Silver Coin 0 167,000 165,000 1,021,000 1,110,500 14,565,500
San Antonio Missions 5 Oz Silver Coin 0 0 0 37,700 17,500 55,200
War in the Pacific 5 Oz Silver Coin 0 0 0 2,500 500 72,500
American Memorial Park 5 Oz Silver Coin* 0 0 0 0 0 80,000
Lowell 5 Oz Silver Coin* N/A 80,000
$100 American Eagle 1 Oz Platinum Coin* N/A 40,000

 

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